“The housing market in Las Vegas appears to be on the verge of a period of robust, sustained growth,” Smith said in Sunday’s report.

With more homes being built, employment may pick up in the local construction industry, Smith said.

“We are told of some hirings, but they are small in number relative to how many jobs were lost during the last four years,” Smith wrote in his report. “We are moving in a positive direction, hopefully translating to better times for all.”